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🔗 Business 🔗 Psychology 🔗 Alternative Views 🔗 Education

In the field of psychology, the Dunning–Kruger effect is a cognitive bias in which people assess their cognitive ability as greater than it is. It is related to the cognitive bias of illusory superiority and comes from the inability of people to recognize their lack of ability. Without the self-awareness of metacognition, people cannot objectively evaluate their competence or incompetence.

As described by social psychologists David Dunning and Justin Kruger, the cognitive bias of illusory superiority results from an internal illusion in people of low ability and from an external misperception in people of high ability; that is, "the miscalibration of the incompetent stems from an error about the self, whereas the miscalibration of the highly competent stems from an error about others."

🔗 Business 🔗 Engineering

Ishikawa diagrams (also called fishbone diagrams, herringbone diagrams, cause-and-effect diagrams, or Fishikawa) are causal diagrams created by Kaoru Ishikawa that show the causes of a specific event.

Common uses of the Ishikawa diagram are product design and quality defect prevention to identify potential factors causing an overall effect. Each cause or reason for imperfection is a source of variation. Causes are usually grouped into major categories to identify and classify these sources of variation.

🔗 Mass surveillance 🔗 Business 🔗 Psychology 🔗 Sociology

The Hawthorne effect is a type of human behavior reactivity in which individuals modify an aspect of their behavior in response to their awareness of being observed. The effect was discovered in the context of research conducted at the Hawthorne Western Electric plant; however, some scholars feel the descriptions are apocryphal.

The original research involved workers who made electrical relays at the Hawthorne Works, a Western Electric plant in Cicero, Illinois. Between 1924 and 1927, the lighting study was conducted. Workers experienced a series of lighting changes in which productivity was said to increase with almost any change in the lighting. This turned out not to be true. In the study that was associated with Elton Mayo, which ran from 1928 to 1932, a series of changes in work structure were implemented (e.g., changes in rest periods) in a group of five women. However, this was a methodologically poor, uncontrolled study that did not permit any firm conclusions to be drawn.

One of the later interpretations by Landsberger suggested that the novelty of being research subjects and the increased attention from such could lead to temporary increases in workers' productivity. This interpretation was dubbed "the Hawthorne effect".

🔗 Business 🔗 Psychology

Theory X and Theory Y are theories of human work motivation and management. They were created by Douglas McGregor while he was working at the MIT Sloan School of Management in the 1950s, and developed further in the 1960s. McGregor's work was rooted in motivation theory alongside the works of Abraham Maslow, who created the hierarchy of needs. The two theories proposed by McGregor describe contrasting models of workforce motivation applied by managers in human resource management, organizational behavior, organizational communication and organizational development. Theory X explains the importance of heightened supervision, external rewards, and penalties, while Theory Y highlights the motivating role of job satisfaction and encourages workers to approach tasks without direct supervision. Management use of Theory X and Theory Y can affect employee motivation and productivity in different ways, and managers may choose to implement strategies from both theories into their practices.

🔗 Business 🔗 Game theory

A Keynesian beauty contest is a concept developed by John Maynard Keynes and introduced in Chapter 12 of his work, The General Theory of Employment, Interest and Money (1936), to explain price fluctuations in equity markets.

🔗 Business 🔗 Politics

The cobra effect occurs when an attempted solution to a problem makes the problem worse, as a type of unintended consequence. The term is used to illustrate the causes of incorrect stimulation in economy and politics.

The term cobra effect originated in an anecdote that describes an occurrence in the time of British rule of colonial India. The British government was concerned about the number of venomous cobras in Delhi. The government therefore offered a bounty for every dead cobra. Initially this was a successful strategy as large numbers of snakes were killed for the reward. Eventually, however, enterprising people began to breed cobras for the income. When the government became aware of this, the reward program was scrapped, causing the cobra breeders to set the now-worthless snakes free. As a result, the wild cobra population further increased.

🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Politics 🔗 Psychology

In social psychology, fundamental attribution error (FAE), also known as correspondence bias or attribution effect, is the tendency for people to under-emphasize situational explanations for an individual's observed behavior while over-emphasizing dispositional and personality-based explanations for their behavior. This effect has been described as "the tendency to believe that what people do reflects who they are".

🔗 Telecommunications 🔗 Systems 🔗 Business 🔗 Systems/Operations research

Virtual queuing is a concept used in inbound call centers. Call centers use an Automatic Call Distributor (ACD) to distribute incoming calls to specific resources (agents) in the center. ACDs hold queued calls in First In, First Out order until agents become available. From the caller’s perspective, without virtual queuing they have only two choices: wait until an agent resource becomes available, or abandon (hang up) and try again later. From the call center’s perspective, a long queue results in many abandoned calls, repeat attempts, and customer dissatisfaction.

Virtual queuing systems allow customers to receive callbacks instead of waiting in an ACD queue. This solution is analogous to the “fast lane” option (e.g. Disney's FASTPASS) used at amusement parks, which often have long queues to ride the various coasters and attractions. A computerized system allows park visitors to secure their place in a “virtual queue” rather than waiting in a physical queue.

In the brick-and-mortar retail and business world, virtual queuing for large organizations similar to the FASTPASS and Six Flags' Flash Pass, have been in use successfully since 1999 and 2001 respectively. For small businesses, the virtual queue management solutions come in two types: (a) based on SMS text notification and (b) apps on smartphones and tablet devices, with in-app notification and remote queue status views.

🔗 Biography 🔗 Business 🔗 England 🔗 Invention 🔗 Professional sound production

Kane Kramer is a British inventor and businessman. He is credited with the initial invention of the digital audio player, in 1979.

🔗 Military history 🔗 Military history/North American military history 🔗 Military history/United States military history 🔗 Books 🔗 Business

War Is a Racket is a speech and a 1935 short book by Smedley D. Butler, a retired United States Marine Corps Major General and two-time Medal of Honor recipient. Based on his career military experience, Butler discusses how business interests commercially benefit from warfare. He had been appointed commanding officer of the Gendarmerie during the 1915–1934 United States occupation of Haiti.

After Butler retired from the US Marine Corps in October 1931, he made a nationwide tour in the early 1930s giving his speech "War Is a Racket". The speech was so well received that he wrote a longer version as a short book published in 1935. His work was condensed in Reader's Digest as a book supplement, which helped popularize his message. In an introduction to the Reader's Digest version, Lowell Thomas, who wrote Butler’s oral autobiography, praised Butler's "moral as well as physical courage".